Marquette Savings Bank Mortgage Rates, Fees & Info

Erie, PA

LEI: 549300IL0IHBRVBZKO13

Tax ID: 25-0640196

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Mortgage Data

Bank Data

Review & Overview

Marquette Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Marquette Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Erie, Meadville, Oil City, Youngstown, and Warren among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Marquette Savings Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Marquette Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.57% 3/28/24
30 Year Conventional Refi 6.58% 3/28/24
30 Year Cash-out Refi 6.27% 3/28/24
15 Year Conventional Purchase 6.03% 3/28/24
15 Year Conventional Refi 5.78% 3/28/24
15 Year Cash-out Refi 5.78% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Marquette Savings Bank Mortgage Calculator






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The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

923

Origination Dollar Volume (All Markets)

$132,945,000

Employee count

135

Awards

Marquette Savings Bank 30 Year Conventional Loans gold Marquette Savings Bank 30 Year Conventional Loans gold Marquette Savings Bank 30 Year Conventional Loans bronze
Show all (3) awards

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
ERIE, PA (FHA|USDA|VA) 664 $100,140,000 $150,813 $2,006 3.53%
Meadville, PA (FHA|USDA|VA) 241 $30,745,000 $127,573 $1,476 3.59%
Oil City, PA (FHA|USDA|VA) 6 $900,000 $150,000 $1,832 3.94%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 7 $565,000 $80,714 $2,202 4.76%
Warren, PA (FHA|USDA|VA) 3 $325,000 $108,333 $1,908 4.00%
PITTSBURGH, PA (FHA|USDA|VA) 2 $270,000 $135,000 $1,847 3.06%
Marquette Savings Bank's top markets include Erie, Meadville, Oil City, Youngstown, and Warren among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 923 $132,945,000 $144,036 $1,864 3.56%

    For 2020, Marquette Savings Bank's most frequently originated type of loan was Conventional, with 923 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 377 $55,975,000 $148,475 $1,117 3.37%
    Home Purchase 369 $58,845,000 $159,472 $2,985 3.83%
    Cash Out Refi 76 $12,340,000 $162,368 $2,775 3.09%
    Home Improvement 51 $3,235,000 $63,431 $190 3.84%
    Other 50 $2,550,000 $51,000 $188 3.41%

    For 2020, Marquette Savings Bank's most frequently cited loan purpose was Refi, with 377 originations. The 2nd most popular reason was Home Purchase, with 369 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 268 $40,850,000 $152,425 $2,654 3.73%
    15 Year 253 $33,265,000 $131,482 $1,528 3.55%
    20 Year 169 $24,935,000 $147,544 $1,257 3.67%
    10 Year 115 $12,075,000 $105,000 $621 3.35%
    5 Year 48 $2,270,000 $47,292 $116 2.98%
    30+ year 43 $14,335,000 $333,372 $5,986 3.48%
    Other 25 $5,205,000 $208,200 $2,347 3.28%
    1 Year 1 $5,000 $5,000 $96 4.13%
    3 Year 1 $5,000 $5,000 $68 3.13%

    For 2020, Marquette Savings Bank's most frequently cited loan duration was 30 Year, with 268 originations. The 2nd most popular length was 15 Year, with 253 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 821 $107,555,000 $131,005
    $2k-3k 28 $8,410,000 $300,357
    $1k-2k 25 $4,655,000 $186,200
    $3k-4k 7 $3,075,000 $439,286
    $5k+ 4 $2,770,000 $692,500

    Marquette Savings Bank's average total fees were $2,654, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 821 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 592 $91,110,000 $153,902
    2.5-3% 193 $28,445,000 $147,383
    4-5% 71 $8,015,000 $112,887
    5-6% 51 $3,395,000 $66,569
    6-7% 13 $635,000 $48,846
    <2.5% 3 $1,345,000 $448,333

    During 2020, Marquette Savings Bank's average interest rate for loans was 3.73%, while their most frequently originated rate bucket for loans was 3-4%, with 592 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 399 $23,725,000 $59,461 $946 3.81%
    $100k-200k 312 $43,710,000 $140,096 $2,033 3.41%
    $200k-400k 180 $46,580,000 $258,778 $3,046 3.31%
    $400k-600k 22 $10,770,000 $489,545 $4,499 3.35%
    $600k-1MM 10 $8,160,000 $816,000 $6,481 3.30%

    2020 saw Marquette Savings Bank place emphasis on $100,000 or less loans with 399 originations, totaling $23,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 199 $33,365,000 $167,663 $2,013 3.43%
    $75k-100k 186 $25,070,000 $134,785 $1,852 3.44%
    $50k-75k 176 $18,190,000 $103,352 $1,714 3.57%
    $50k or less 171 $12,715,000 $74,357 $1,485 3.94%
    $150k-250k 101 $20,595,000 $203,911 $2,462 3.36%
    $250k+ 46 $16,190,000 $351,957 $2,651 3.34%

    Marquette Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 199 originations. The second most popular income band? $75k-100k, with 186 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 292 $40,870,000 $139,966 $1,815 3.46%
    30-36% 207 $27,695,000 $133,792 $1,773 3.69%
    <20% 149 $21,135,000 $141,846 $1,718 3.32%
    37% 60 $8,340,000 $139,000 $1,903 3.66%
    36% 36 $5,280,000 $146,667 $1,841 3.80%
    38% 36 $4,630,000 $128,611 $1,951 3.46%
    39% 32 $5,130,000 $160,313 $2,020 3.58%
    41% 24 $4,410,000 $183,750 $2,625 3.74%
    40% 17 $2,375,000 $139,706 $2,253 3.41%
    42% 16 $3,400,000 $212,500 $2,765 3.78%
    43% 7 $1,555,000 $222,143 $1,337 3.46%
    44% 4 $390,000 $97,500 $2,714 3.27%
    47% 3 $435,000 $145,000 $2,656 3.46%
    46% 3 $505,000 $168,333 $3,121 3.83%
    48% 3 $575,000 $191,667 $2,830 3.58%
    45% 2 $180,000 $90,000 $1,516 3.00%
    >60% 1 $155,000 $155,000 $0 4.38%
    49% 1 $225,000 $225,000 $3,282 2.75%
    50-60% 1 $525,000 $525,000 $0 4.25%

    Marquette Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 292 originations. The next most common DTI ratio? 30-36%, with 207 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 839 $119,785,000 $142,771 $1,885 3.52%
    Not applicable 28 $5,070,000 $181,071 $0 4.27%
    Not provided 21 $3,765,000 $179,286 $1,332 3.54%
    Asian 10 $1,930,000 $193,000 $2,108 3.14%
    Black 21 $1,835,000 $87,381 $1,521 4.61%
    Other Asian 1 $225,000 $225,000 $3,503 3.50%
    Asian Indian 1 $205,000 $205,000 $68 2.88%
    Other Pacific Islander 1 $85,000 $85,000 $96 3.38%
    American Indian 1 $45,000 $45,000 $408 3.50%

    Approval Rates

    Total approvals of all applications
    91.39%

    Marquette Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.03%

    Marquette Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 923 $132,945,000 $144,036

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 13 $4,335,000 $333,462
    Single Family (1-4 Units):Manufactured 15 $1,265,000 $84,333
    Single Family (1-4 Units):Site-Built 895 $127,345,000 $142,285

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 93 $5,495,000 $59,086 $471 3.42%
    40-60% 129 $15,245,000 $118,178 $1,388 3.44%
    60-80% 378 $61,500,000 $162,698 $2,030 3.57%
    80-100% 274 $48,840,000 $178,248 $2,686 3.68%
    Under 20% 49 $1,865,000 $38,061 $103 3.43%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Market Place Mortgage Corp. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Marquette Savings Bank 920 Peach Street Erie, PA 16501 Full Service B&M $243,347
    Marquette Savings Bank 953 South Main Street Meadville, PA 16335 Limited, Administrative $0
    Marquette Savings Bank 1075 Park Avenue Meadville, PA 16335 Full Service B&M $103,661
    Marquette Savings Bank 14 North Main St Albion, PA 16401 Full Service B&M $43,769
    Marquette Savings Bank 16272 Conneaut Lake Road Meadville, PA 16335 Full Service Retail $24,307
    Marquette Savings Bank 1775 East 38th Street Erie, PA 16510 Full Service B&M $61,625
    Marquette Savings Bank 209 Plum Street Edinboro, PA 16412 Full Service B&M $42,176
    Marquette Savings Bank 210 Water St. Conneaut Lake, PA 16316 Full Service B&M $63,746
    Marquette Savings Bank 2320 West 12th St Erie, PA 16505 Full Service B&M $76,883
    Marquette Savings Bank 3404 Liberty Street Erie, PA 16509 Full Service B&M $106,998
    Marquette Savings Bank 349 North Street Meadville, PA 16335 Limited, Drive-thru $0
    Marquette Savings Bank 3801 Sterrettania Road Erie, PA 16506 Full Service B&M $78,167

    For 2020, Marquette Savings Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $33,624
    Net interest income $26,772
    Total noninterest income $2,925
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $567
    Trading account gains and fees $0
    Additional Noninterest Income $2,358
    Pre-tax net operating income $6,593
    Securities gains (or losses, -) $107
    Income before extraordinary items $5,862
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,862
    Minority interest net income $0
    Net income $5,862
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,768

    Marquette Savings Bank's gross interest income from loans was $33,624,000.
    Marquette Savings Bank's net interest income from loans was $26,772,000.
    Marquette Savings Bank's fee based income from loans was $567,000.
    Marquette Savings Bank's net income from loans was $5,862,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,852
    Provision for credit losses $1,047
    Total noninterest expense $22,057
    Salaries and employee benefits $11,112
    Premises and equipment expense $4,015
    Additional noninterest expense $6,930
    Applicable income taxes $838
    Net charge-offs $452
    Cash dividends $0

    Marquette Savings Bank's interest expense for loans was $6,852,000.
    Marquette Savings Bank's payroll and benefits expense were $11,112,000.
    Marquette Savings Bank's property, plant and equipment expenses $4,015,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $864,997
    Deposits held in domestic offices $864,997
    Deposits by Individuals, partnerships, and corporations $833,423
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $30,900
    Deposits by Commercial banks and other depository institutions in U.S. $674
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $269,134
    Demand deposits $269,134
    Nontransaction accounts $595,863
    Money market deposit accounts (MMDAs) $190,553
    Other savings deposits (excluding MMDAs) $111,293
    Total time deposits $294,017
    Total time and savings deposits $595,863
    Noninterest-bearing deposits $144,257
    Interest-bearing deposits $720,740
    Retail deposits $825,045
    IRAs and Keogh plan accounts $93,383
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,050,889
    Cash & Balances due from depository institutions $25,964
    Interest-bearing balances $24,053
    Total securities $356,993
    Federal funds sold & reverse repurchase $0
    Net loans and leases $597,793
    Loan and leases loss allowance $2,840
    Trading account assets $0
    Bank premises and fixed assets $23,752
    Other real estate owned $293
    Goodwill and other intangibles $3,168
    All other assets $42,926

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,050,889
    Total Liabilities $872,995
    Total deposits $864,997
    Interest-bearing deposits $720,740
    Deposits held in domestic offices $864,997
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $7,998

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $597,793
    Loan and leases loss allowance $2,840
    Total loans and leases (domestic) $600,633
    All real estate loans $520,559
    Real estate loans in domestic offices $520,559
    Construction and development loans $11,834
    Residential 1-4 family construction $10,953
    Other construction, all land development and other land $881
    Loans secured by nonfarm nonresidential properties $53,940
    Nonfarm nonresidential secured by owner-occupied properties $39,589
    Commercial real estate & other non-farm, non-residential $14,351
    Multifamily residential real estate $7,808
    1-4 family residential loans $446,801
    Farmland loans $176
    Loans held in foreign offices $0
    Farm loans $409
    Commercial and industrial loans $77,299
    To non-U.S. addressees $0
    Loans to individuals $1,607
    Credit card loans $0
    Related Plans $721
    Consumer Auto Loans $0
    Other loans to individuals $886
    All other loans & leases $759
    Loans to foreign governments and official institutions $0
    Other loans $500
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $249
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Marquette Savings Bank had $597,793,000 of loans outstanding in 2020. $520,559,000 of loans were in real estate loans. $11,834,000 of loans were in development loans. $7,808,000 of loans were in multifamily mortgage loans. $446,801,000 of loans were in 1-4 family mortgage loans. $409,000 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 161 $53,474 $332,137
    Nonfarm, nonresidential loans - <$100k 44 $1,926 $43,773
    Nonfarm, nonresidential loans - $100-250k 55 $7,079 $128,709
    Nonfarm, nonresidential loans - $250k-1MM 62 $44,469 $717,242
    Commercial & Industrial, US addressed loans - <$1MM 540 $77,299 $143,146
    Commercial & Industrial, US addressed loans - <$100k 363 $9,811 $27,028
    Commercial & Industrial, US addressed loans - $100-250k 97 $12,362 $127,443
    Commercial & Industrial, US addressed loans - $250k-1MM 80 $55,126 $689,075
    Farmland loans - <$1MM 4 $176 $44,000
    Farmland loans - <$100k 4 $176 $44,000
    Agriculture operations loans - <$1MM 4 $409 $102,250
    Agriculture operations loans - <$100k 2 $39 $19,500
    Agriculture operations loans - $100-250k 1 $135 $135,000
    Agriculture operations loans - $250k-1MM 1 $235 $235,000